Recommendations have been made to make Malta more competitive in the area of small businesses. The suggestions include amendments to the Small Businesses Act.
Amendments to the Malta Small Businesses Act have been suggested with the aim of making Malta more competitive. The suggestions for amending the Malta Small Businesses Act have lately been presented by the Malta Chamber of Commerce, Enterprise and Industry to the Hon. Dr. Jason Azzopardi, Parliamentary Secretary for Small Business and Land. Although this piece of legislation is quite recent and the experience of its application is somewhat limited, a number of areas have been identified which can be enhanced.
The main suggestions included the creation of a one-stop-shop for enterprises, a feature that will be very beneficial to start-up companies, given that it will significantly reduce administrative expenses that will otherwise adversely affect such enterprises. This one-stop-shop is expected to be launched in the coming weeks, and will be located at the Malta Enterprise offices. Moreover, it is also envisaged that a Corporate Identification Card be introduced, which would result in better data sharing and filing facilities between public sector entities.
The suggestions for such changes in the Malta Small Businesses Act are currently being discussed with the relevant government authorities. It is envisaged that the consultation process shall soon be concluded.
